30
Mar
London 'leads the way' in house price growth
More people may be looking for property for sale in London, as the capital has been
highlighted as having led price growth in the first quarter of the
year.
According to figures from Nationwide, seasonally-adjusted values
were up 2.5 per cent over the three-month period - while annual
growth was 15.7 per cent.
For the country as a whole, the cost of the typical property stands
at £162,887 - up 1.6 per cent from the final quarter of 2009
and 8.8 per cent compared to a year ago.
Chief economist Martin Gahbauer noted that Greater London
"maintained its position as the best-performing region", adding
that the east Midlands was also strong.
"The first quarter of 2010 saw continued house price growth across
most UK regions and all regions saw an improvement in their annual
rate of change," he added.
Last week, the Land Registry revealed that London house prices were
up 11.9 per cent in February, compared to the same month in
2009.
